MARKET CLOSE: Dow, techs plow on

January 2, 20024:43 PM PST

Computer and software stocks made strong gains Wednesday as the Nasdaq composite picked up 6 points to 2,742.96. The Dow Jones industrial average closed up 52 points to 11,187.36 despite some ominous profit warnings.

"You are seeing a lot of nervousness in general, you had no warnings prior to July 1 and now you are getting a few warnings, which are hurting the market," said Barry Hyman, market analyst at Ehrenkrantz, King & Nussbaum.

New Era of Networks (NEON) plummeted 24 5/8 to 19 7/16 after the company said it would report a second quarter loss. Sterling Commerce( SE) also lost 9 to 26 3/4 after it warned it expects third quarter earnings below expectations.

Vantive Corp. (VNTV) plunged 3 3/32 to 9 23/32 following its warning that it would post a loss of between 12 cents to 14 cents a share in its second quarter.